Why MicroStrategy’s Latest Bitcoin Purchase Is Deeply Concerning

MicroStrategy disclosed its latest Bitcoin purchase on January 26. In its 4th purchase of the month, the company acquired $264.1 million in Bitcoin at an average price of $90,061 per BTC.  The acquisition brings the company’s average cost of Bitcoin purchase to $76,037. The purchase came as Bitcoin traded in a volatile January range, slipping from early-month highs above $95,000 to the high-$80,000 range. Latest Buy Details and Funding Structure While the headline buy reinforces MicroStrategy’s long-term ...